Clarity Wealth Development LLC Invests $273,000 in Alphabet Inc. (NASDAQ:GOOGL)

Clarity Wealth Development LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,340 shares of the information services provider’s stock, valued at approximately $273,000.

Several other institutional investors have also bought and sold shares of the company. Taylor Financial Group Inc. purchased a new stake in Alphabet in the 4th quarter worth about $212,000. PDS Planning Inc boosted its position in Alphabet by 9.4% during the fourth quarter. PDS Planning Inc now owns 32,662 shares of the information services provider’s stock worth $6,183,000 after purchasing an additional 2,802 shares during the period. Retirement Planning Co of New England Inc. increased its stake in shares of Alphabet by 2.7% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 18,304 shares of the information services provider’s stock worth $3,465,000 after purchasing an additional 476 shares in the last quarter. Mystic Asset Management Inc. raised its position in shares of Alphabet by 6.7% in the fourth quarter. Mystic Asset Management Inc. now owns 26,663 shares of the information services provider’s stock valued at $5,047,000 after purchasing an additional 1,677 shares during the period. Finally, Leelyn Smith LLC lifted its stake in shares of Alphabet by 1.4% during the 4th quarter. Leelyn Smith LLC now owns 41,055 shares of the information services provider’s stock valued at $7,772,000 after buying an additional 556 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on GOOGL shares. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wells Fargo & Company boosted their price objective on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. KeyCorp cut their target price on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. DA Davidson upped their price target on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,812 shares of company stock worth $19,336,979. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $154.33 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $179.66 and a 200-day moving average price of $176.92. The company has a market cap of $1.88 trillion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.